OMNIQ Corp.

OmniQ reported Q3 2024 revenue of $18.5 million, up from $17.2 million in Q3 2023, or about 7.6% year over year. Gross profit was $3.95 million versus $4.0 million a year ago, and basic loss per share improved to $(0.15) from $(0.55). Net loss narrowed to about $1.6 million from $4.3 million, operating expenses fell to $4.9 million from $6.6 million, and SG&A declined to $4.4 million from $5.6 million. For the first nine months of 2024, OmniQ generated net cash of $230,000 versus net use of $2.1 million in the prior-year period. Management did not provide next-quarter or full-year numerical guidance on the call.

Shai Lustgarten framed the quarter as evidence that OmniQ’s strategy is gaining traction, pointing to deployments and partnerships across machine vision, access control, fintech, and IoT. He highlighted the NEC facial-recognition project, upgrades in access control at medical centers, CodeBlox payment software being sold internationally, and recent larger IoT purchase orders. His tone was optimistic and forward-looking, with repeated emphasis on building recurring revenue through SaaS and service offerings and expanding in smart city, public safety, logistics, and healthcare markets.

As acting CFO, Lustgarten focused on cost discipline and improved operating leverage. He cited revenue of $18.5 million, gross profit of $3.95 million, operating expenses of $4.9 million, SG&A of $4.4 million, and a net loss of about $1.6 million, all compared with tougher prior-year figures. He also noted nine-month net cash generation of $230,000 versus a $2.1 million use of cash last year, and said the reductions were tied to a management cost-reduction plan. He added that diversified hardware sourcing should help support future margin stability.

There were no analyst questions on the call, so no new concerns were raised in Q&A. The operator opened the session for questions, but none came in, and management closed by reiterating confidence in sustaining momentum and moving toward profitability. As a result, the call contained no additional clarification on demand, margins, or guidance beyond the prepared remarks.